DAILY COMMODITY MARKET STRATEGY-12 June 2014

BASE METAL WRAP: Copper declined for the sixth time in seven sessions in New York as a Chinese probe into financing transactions eroded demand prospects for deals using the metal as collateral.

ENERGY WRAP: West Texas Intermediate extended gains after government data showed crude inventories dropped for a second week in the U.S., the world’s biggest oil consumer. Brent advanced in London.

PRECIOUS METAL WRAP: Gold held near the highest level in two weeks as a rally in equities faltered, boosting demand for alternative investments. Palladium traded below a 13-year high.

GLOBAL EVENTS TO WATCH: Official Cash Rate, RBNZ Monetary Policy Statement, RBNZ Press Conference, RBNZ Rate Statement, Employment Change, Unemployment Rate, Core Retail Sales m/m, Retail Sales m/m, Unemployment Claims, Import Prices m/m, Business Inventories m/m, Natural Gas Storage, BOC Gov Poloz Speaks, 30-y Bond Auction.

AGRI COMMODITY	BULLION COMMODITY
CS CHANA (JULY) OVERVIEW: TREND BEARISH SUP1:2740 SUP2:2650 RESIST1:2850 RESIST2:2900 TRADING STRATEGY: SELL ON RISE	CS COPPER (JUNE) OVERVIEW: TREND CONSOLIDATE SUP1: 397 SUP2:394 RESIST1:404 RESIST2:407 TRADING STRATEGY: SELL ON RISE
CS JEERA (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:10830 SUP2:10700 RESIST1:11125 RESIST2:11250 TRADING STRATEGY: SELL ON RISE	CS CRUDE (JUNE) OVERVIEW: TREND BULLISH SUP1:6150 SUP2:6100 RESIST1:6270 RESIST2:6340 TRADING STRATEGY: BUY ON DIPS
CS TURMERIC (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:5850 SUP2:5750 RESIST1:6070 RESIST2:6150 TRADING STRATEGY: SELL ON RISE	CS GOLD (AUG) OVERVIEW: TREND BEARISH SUP1:25940 SUP2:25600 RESIST1:26400 RESIST2:26920 TRADING STRATEGY: SELL ON RISE
CS SOYABEAN (JULY) OVERVIEW: TREND BEARISH SUP1:4265 SUP2:4190 RESIST1:4360 RESIST2:4400 TRADING STRATEGY: SELL ON RISE	CS SILVER (JULY) OVERVIEW: TREND CONSOLIDATE SUP1:40100 SUP2:39800 RESIST1:40800 RESIST2:41500 TRADING STRATEGY: SELL ON RISE